Business
Aldebaran Resources Upsizes Previously Announced Financing to $20.1 Million
VANCOUVER, British Columbia, Sept. 08, 2023 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF), is pleased
About this update from Aldebaran Resources Inc
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 08, 2023 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF), is pleased to announce that it has increased the size of its previously announced non-brokered private placement (the “Private Placement”) from $17,468,604 to $19,228,604. Upon closing of the Private Placement, the Company will issue 8,528,756 common shares (“Common Shares”) at $1.01 per Common Share and 1,962,000 Common Shares at $0.88 per Common Share to a wholly-owned subsidiary of South32 Limited. The Company will issue a total of 10,100,000 Common Shares at $0.88 per Common Share to Route One Investment Company LLC (“Route One”) and to management of the Company. In addition, the Company is pleased to announce a concurrent non-brokered private placement financing of up to 1,000,000 Common Shares at a price of $0.88 per Common Share pursuant to the listed issuer financing exemption (the “LIFE Financing”). The Company expects to raise gross proceeds of $880,000 under the LIFE Financing. There is an offering document related to the LIFE Financing that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.aldebaranresources.com. Prospective investors should read this offering document before making an investment decision. The Company expects to raise aggregate gross proceeds of up to $20,108,604 under the Private Placement and LIFE Financing. Net proceeds from the Private Placement and the LIFE Financing will be used to advance the Altar copper-gold project located in San Juan, Argentina, and for general corporate purposes. Both the Private Placement and the LIFE Financing are expected to close in September 2023, subject to various conditions, including approval of the TSX Venture Exchange. No finder’s fee is payable in connection with the Private Placement. The Company may pay registrants and eligible finders who introduce investors that participate in the LIFE Financing a cash commission of 4% of gross proceeds raised from investors introduced by such registrants or finders. Route One is a control person of the Company. Accordingly, the participation of management and Route One in the Private Placement constitutes a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Tran...